Delay of Submission to the MLS Addendum
The following standards are in place for the promotion of unlisted and listed properties:
• If a listing agreement hasn’t been signed, the agent may advertise the property with the seller’s written consent (including placement of a sign). There is risk in this practice since a contractual relationship doesn’t exist and another agent could approach the seller directly either to present an offer or to discuss a listing agreement.
• Once an exclusive right to sell listing agreement has been signed, the listing must be submitted to the MLS within 1 calendar day from the date that marketing begins (a sign is considered marketing) OR within 3 business days if no marketing is occurring (whichever occurs first).
• GRAR also offers a Delay of Submission to the MLS Addendum if the listing is unable to be submitted within 3 business days due to repairs, staging, photography, etc., however, that Addendum prohibits all marketing (including signs) until the listing has been submitted to the MLS.
• If the seller has signed a listing agreement, but requested in writing that it not be submitted to the MLS (without prompting to do so by the agent/broker), then it is deemed an Office Exclusive Listing and would only be promoted internally within the listing brokerage (no public advertising or signs are permitted).
If a Delay of Submission to the MLS Addendum is utilized, that means that the seller and listing agent/broker are aware when the listing agreement is signed that it will be unable to be submitted to the MLS within 1 or 3 business days. This is typically because repairs are being made, staging is occurring, professional photography has been ordered, or some other activity is occurring that prevents the listing from being immediately shown. When signing that Addendum, please keep the following in mind:
• The Addendum is signed on the same date as the listing agreement. In the absence of the Addendum being signed on that date, it is presumed that the listing will be submitted to the MLS more quickly.
• The Addendum very clearly states that the property will not be marketed or shown prior to its submission to the MLS.
• There isn’t an exact science in determining the date that the listing will be submitted to the MLS in these instances, especially if the parties are relying upon the services of contractors. Therefore, the parties use their best guess as to the date that the listing will be submitted to the MLS. If it turns out that the listing can be submitted more quickly, that is great. The listing can be uploaded to the MLS and the Addendum attached. If the parties discover that additional time is needed, that is fine too. They would then complete and sign a 2nd Delay of Submission Addendum identifying the new estimated date. When the listing is submitted to the MLS, both Addendums would be uploaded.
• The date that the listing is submitted to the MLS becomes the start date in the system in order to keep days on market accurate. If the Addendum isn’t signed on the same date as the listing agreement, then the MLS is obligated to have the days on market reflect the start date on the listing agreement.
The Delay of Submission Addendum and policy was developed by the REALTOR members of GRAR who serve on committees and in leadership positions. The intent is to be sure that the seller understands that the listing broker has an obligation to submit all exclusive right-to-sell listings to the MLS within the time period required by the MLS, and that the seller further understands that submission of the listing to the MLS will provide the property with broad market exposure and will enable the seller to more likely recognize the highest and best value and terms for the property.